Nowadays, most of the customers prefer to make payments through a debit card or credit card. This makes it important for any business owner or merchant either at small, medium or large scale to accept payments electronically from the customers for better sales volumes. SBI Merchant Acquiring Services are available across over 15000 branches in the country which provide SBI PoS services. SBI PoS (Point of Sale Terminal or PoS Terminal) is an Electronic Data Capture machine or a PIN pad at the outlet to make sales and transactions much simpler.
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What is PoS?
Pos or Point of Sale is where a customer executes a transaction or payment of goods and services. The services offered by a PoS system are credit card processing, transaction management and other Post-transaction operations. Whether a merchant runs a retail outlet or even a restaurant, a Pos Terminal is required to process card payments.
SBI offers a variety of services to merchants who hold an SBI Current Account through their latest PoS technology.
Types of SBI PoS Terminal
With SBI PoS, a merchant can get the following options:
Types of SBI Pos Terminal
|1. PSTN – This can be connected using the regular telephone line|
|2. Desktop GPRS – This can be connected with a GPRS SIM that is installed at the outlet|
|3. Portable GPRS – This can be connected using a GPRS SIM and is powered by an inbuilt battery. This can be used anywhere as it is portable|
|4. Mobile PoS|
|5. ECR (Electronic Cash Register) Based Terminals|
|6. Bio Metric Desktop GPRS|
|7. Bio Metric Portable GPRS|
|8. NFC Enabled Terminal|
SBI PoS Charges
SBI offers the lowest and most attractive deals for PoS installation for all merchants. Here are fees and charges applicable on SBI PoS systems:
- All the costs of the terminal are borne by SBI
- Merchant is not required to pay any monthly rental for PSTN terminal installation
- The rental charges per month are nominal for the installation of Portable GPRS and GPRS terminals
- All merchants have the option of choosing between integrated and differential rates for the Off-us and On-us transactions. All transactions made with an SBI ATM cum Debit Card or Prepaid card issued by SBI Group and used on the SBI POS machines are known as On-us transactions. All transactions made with ATM Cum Debit Cards or prepaid cards offered by other banks are known as Off-Us transactions
- Merchants have the advantage of exclusive merchant benefit plans that are based on the volume of sales made at the PoS terminal
- All the charges applicable will be mentioned in the Merchant Establishment Agreement and will be signed by the merchants to ensure that there are no discrepancies
- Currently, SBI PoS does not levy any installation charges for any type of business in any location
- All the charges will attract GST or other taxes as applicable
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How to Apply for SBI PoS?
Step 1: Visit https://mab.sbi.co.in/
Step 2: Click on ‘Apply now’ under the ‘New Merchant’ section
Step 3: Merchant will be redirected to SBI Pos Form where he / she will have to fill the required information
Step 4: Click on ‘Submit’ to successfully apply for SBI PoS
Step 5: An SBI executive will contact the merchant for document verification and POS installation
SBI PoS – Eligibility Criteria
In order to apply for an SBI PoS, it is necessary for the customer to have:
- A valid business establishment that is currently functional and has some sales and activity.
- A business that has been functioning for at least 6 months or more.
In order to apply for an SBI PoS terminal, the merchant can contact the nearest SBI Branch. Merchant can get in touch with executives from the Multi-Product Sales team and provide the following documents:
- Duly filled merchant application form
- ID Proof such as voter’s ID/ Passport/ Adhaar Card/ Driver’s License
- Address Proof such as the Rental Agreement/ Adhaar Card/ Passport/ Driver’s License
- Business Establishment Proof such as Registration/ Shop Act License/ Partnership Deed or ITR.
Merchant also has the option of applying online on www.mab.sbi.co.in with the following steps:
- Click on the Apply Now Option Provided on the Homepage
- Fill the form provided with necessary documents. Merchant will have to provide details such as the type of establishment, contact details, number of POS terminals required, average number of transactions each day along with other details of the establishment
Merchant will be contacted by SBI executives for document verification and POS installation.
Features and Benefits of SBI PoS
The vision of SBI Merchant Acquiring is to provide new and existing merchants with an advanced suite of PoS Services to help them accept all chip based cards or PIN Based cards. These PoS Services are EMV compliant and offer the following features and benefits to merchants:
- Improves sales volumes: A PoS system allows customers to make payments using cards. This does not lead to restrictions in sales due to the unavailability of cash. This not only improves customer loyalty but also increases the sales margins with certain items.
- Faster payment and improved cash management: When a merchant accepts payments through the card, transactions are faster and are credited to the merchant’s account electronically as per the transaction cycle that the merchant has chosen.
- Helps save time: When any merchant accepts payments through cards, he/she will be able to avoid other tasks such as counting cash or visiting an SBI branch to have the cash deposited. This allows a merchant to focus on other tasks such as marketing and growing business.
- Provides security: With the amount being credited to the merchant’s account directly, he/she can avoid the risk of storing large amounts of cash at the outlet. These terminals are also EMV compliant and accept cards that are chip-based. This means that even the customers are guaranteed security from frauds with their transactions.
- Best customer care: With SBI PoS, a merchant gets quick and reliable assistance in case of issues like the malfunctioning of PoS terminal or any network outage that can have a negative effect on sales. These services are available around the clock and are easily accessible.
- SBI Cash@PoS Facility: SBI Cash@PoS facility enables all the SBI debit card users to withdraw cash by swiping their SBI ATM cum Debit cards at SBI PoS terminals at merchant locations.
SBI POS Customer Care
Any merchant can log in to the merchant account on www.mab.sbi.co.in to view transaction details and to register any complaint. Merchant can also contact customer care through these channels:
|For PRIZM Serviced Terminals:|
Toll free number: 18004250727
Non Toll free number: 1860 524 0767
SMS: Send ‘POS’ to 56677
|For ATOS Serviced Terminals|
Toll free number: 1860 233 2332
Non Toll free number: 022-4042 6060
SMS: Send ‘HELP’ to 56070
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SBI PoS: News Updates
SBI is Providing Cash Withdrawal Facility using PoS Facility
|April 22, 2018
State Bank of India (SBI) informed all their customers through their official twitter handle that they are providing cash withdrawal through PoS terminals without any charge or fees to all its customers. The withdrawal cash limit through SBI PoS can go up to Rs. 2,000 in Tier 3, Tier 4, Tier 5 and Tier 6 cities while it is limited to Rs. 1,000 in Tier 1 and Tier 2 cities per card per day, as per the tweet.